For many financial institutions, loans are placed at the center of the organizations as they provide a key ingredient in determining organizational profitability. Financial institutions are increasingly mindful of improving loan origination and servicing processes to increase efficiency and decision speed. They also aim to enhance their capabilities to provide superior customer experience.
Managing complex, scalable and multiphase lending processes requires excelling in operations. VeriPark's loan origination and servicing solution VeriLoan developed on Microsoft Dynamics 365 offers the best-in-class end-to-end solution for financial institutions. It provides a full range of functionalities that streamlines loan origination and servicing processes, while maximizing efficiency and reducing risk.
VeriLoan is a loan origination solution that helps financial institutions to:
- Eliminate manual processing by automating the paper-based processes,
- Enable financial institution employees to spend time on things that matter, such as sales activities and customer relationship management, instead of administration,
- Enhance capabilities,
- Offer tailor-made process flows, policies and rules.
One application to rule all origination channels
Capturing the loan request is the first and most important part of a loan origination solution. VeriLoan helps to capture the data and manage seamless, consistent and engaging customer journeys on the same platform, no matter what channel or combination of channels you choose to use. Multiple channels being managed in the same platform creates comprehensive loan origination processes that enable an all-inclusive review of:
- Digital Loan Origination
- Instant Loan Origination
- Mobile Loan Origination
- Merchant-based Loan Origination
VeriLoan's workflow technology to manage work steps in the loan origination and servicing processes reduces the amount of redundancy. It includes rule engine based scoring and all the functionalities and forms that loan processors require while processing a loan. It provides extensive parameterization, reusable business rules and easy access to all forms, verifications, lenders and third parties.